Comparison of ways of dealing with the impacts of the global crisis from 2008 in the Czech Republic, Slovenia and Latvia on the basis of analyzes of economic development in individual countries between 2004-2017

The aim of the thesis is to compare the strategies of solving the world financial crisis from 2008 in Czech republic, Slovenia and Latvia on the basis of quantitative macroeco-nomic analysis of each of the state between the years 2004-2017 and conclude which of these solutions turned out to be more effective than others. The analysed indicators are GDP, state debt, state budget deficit, inflation rate and unemployment rate. Special atten-tion is devoted to the effects of the fiscal and monetary policies. The theoretical part gives the view on the state´s part in stabilization of economy, ex-plains the theoretical implications of use of the instruments of economic policy, defines mentioned economic theories and provides the description of used macroeconomic aggre-gates.The practical part describes the process of the crisis from 2008 in the USA as the coun-try of the origin of the crisis, then it continues with the macroeconomic analysis of each of the three selected states and concludes with the comparison of the acquired results. Based on these it evaluates the most effective solutions of the crisis. The analysis indicate that the appropriate assessment of macroeconomic situation on the basis of fundamental economic theories, moderate fiscal policy as well as balanced monetary policy, the reformation of systems that are too expensive for the state budget and finally the fiscal consolidation and expenditure restriction during the time of crisis lead to the most effective recovery from the economic contraction. Latvia´s economic development stays as a proof of such claim.